Citigroup Inc., the biggest user of government debt guarantees extended under last year's bank rescue, plans to get out of the program as regulators push to withdraw aid intended as temporary, people familiar with the matter said.

Citi has been in discussions with the Federal Deposit Insurance Corp. over leaving the program when it expires Oct. 31, the people said. The banking company, which had $72.4 billion of FDIC-guaranteed debt outstanding as of June 30, does not plan to seek an emergency extension, one of the people said.

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